Recent winners of the IPL, Royal Challengers Bengaluru, are under scrutiny as British distiller Diageo Plc considers its ownership options for the cricket franchise. Sources reveal that Diageo is in talks with potential advisors to explore the sale of part or all of the club, valuing it at up to $2 billion.

While no final decisions have been made, insiders suggest that Diageo may choose to retain ownership. The team, led by star player Virat Kohli, recently clinched their first IPL title and boasts a massive global following on social media.

India's health ministry's efforts to curb the promotion of tobacco and alcohol brands in the IPL have added complexity to the discussions. Despite restrictions on explicit advertising of such products, companies like Diageo have leveraged sports personalities to promote other goods like soda.

Originally acquired by Vijay Mallya, RCB came under Diageo's ownership after the acquisition of Mallya's spirits business. The IPL team's recent success has made it a lucrative asset in the booming sports industry, potentially setting a benchmark for future deals.

The IPL has emerged as a massive entertainment and advertising platform, attracting millions of viewers globally. For Diageo, considering a divestment could free up capital amidst challenges in its largest market, the US, where premium liquor sales have been impacted by tariffs and a consumer slowdown.